PNC Financial Services Group Inc. Grows Stake in UL Solutions Inc. (NYSE:ULS)

PNC Financial Services Group Inc. boosted its position in shares of UL Solutions Inc. (NYSE:ULS) by 653.9% during the fourth quarter, Holdings Channel reports. The firm owned 671 shares of the company’s stock after buying an additional 582 shares during the quarter. PNC Financial Services Group Inc.’s holdings in UL Solutions were worth $33,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Stifel Financial Corp grew its holdings in shares of UL Solutions by 1.6% during the third quarter. Stifel Financial Corp now owns 30,500 shares of the company’s stock worth $1,504,000 after buying an additional 485 shares in the last quarter. Lisanti Capital Growth LLC lifted its stake in shares of UL Solutions by 0.7% during the 4th quarter. Lisanti Capital Growth LLC now owns 93,620 shares of the company’s stock worth $4,670,000 after purchasing an additional 690 shares during the period. XTX Topco Ltd boosted its holdings in shares of UL Solutions by 15.5% during the third quarter. XTX Topco Ltd now owns 7,733 shares of the company’s stock worth $381,000 after purchasing an additional 1,035 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new position in UL Solutions in the third quarter valued at $84,000. Finally, KBC Group NV purchased a new position in UL Solutions during the fourth quarter worth about $163,000.

Insiders Place Their Bets

In other news, EVP Alberto Uggetti sold 1,938 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $53.00, for a total transaction of $102,714.00. Following the completion of the sale, the executive vice president now owns 9,285 shares of the company’s stock, valued at approximately $492,105. This trade represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

UL Solutions Stock Up 1.2 %

ULS stock opened at $55.54 on Friday. The stock has a market capitalization of $11.12 billion and a price-to-earnings ratio of 34.29. The company has a 50-day moving average of $53.62 and a two-hundred day moving average of $52.00. UL Solutions Inc. has a 52-week low of $33.15 and a 52-week high of $59.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.31 and a quick ratio of 1.31.

UL Solutions (NYSE:ULS) last released its earnings results on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.38 by $0.11. The firm had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. As a group, equities research analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 28th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from UL Solutions’s previous quarterly dividend of $0.13. UL Solutions’s dividend payout ratio is 32.10%.

Analyst Ratings Changes

ULS has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of UL Solutions from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. The Goldman Sachs Group lifted their price target on shares of UL Solutions from $51.00 to $57.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Finally, Citigroup upped their price objective on UL Solutions from $60.00 to $60.50 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.45.

UL Solutions Company Profile

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.